30 research outputs found

    Rice

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    Rice culture

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    Irrigation from Big Thompson River /

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    What's Psychology Worth?

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    Numerous laboratory studies find that minor nuances of presentation and description change behavior in ways that are inconsistent with standard economic models. How much do these context e#ects matter in natural settings, when consumers make large, real decisions and have the opportunity to learn from experience? We report on a field experiment designed to address this question. A South African lender sent letters o#ering incumbent clients large, short-term loans at randomly chosen interest rates. The letters also contained independently randomized psychological "features" that were motivated by specific types of frames and cues shown to be powerful in the lab, but which, from a normative perspective, ought to have no impact. Consistent with standard economics, the interest rate significantly a#ected loan take-up. Inconsistent with standard economics, some of the psychological features also significantly a#ected take-up

    Publisher Correction: Natural selection on the Arabidopsis thaliana genome in present and future climates

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    An Amendment to this paper has been published and can be accessed via a link at the top of the paper
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